Gateway Mortgage is one of the St. Louis area’s longest established licensed mortgage broker firms having served over 10,000 customers since 1990. We realize you have many options to choose from for obtaining a mortgage, however, there are some strong reasons why working with a licensed mortgage broker makes more sense than working with an unlicensed loan officer at a bank.
1. More Product – Our licensed mortgage brokers can do just about anything in the financing market and if there’s a product out there that we don’t have, we can usually obtain it for you. Bank loan officers are limited to a strict structure of product offerings in that bank’s portfolio, products that are usually selected because of their profitability and low risk factors rather than being selected to provide the best overall solution for their customers. We simply have more options available.
2. Lower Rates – Almost always. Whether with a new client, previous client, family or friends, it’s a great feeling to be able to say “feel free to shop around if you’re concerned about your rate.” Our clients always come back. Things like overhead and loan loss reserves are significantly less for a brokerage firm.
Bottom line: We don’t need to make as much per transaction.
3. Speed – Whether we are working with someone needing a pre-approval immediately or a busy client that expects a GFE and loan approval the first day we talk, we can accommodate. I know banks that still don’t even “allow” their loan officers to print a GFE (Good Faith Estimate). There is no substitute for experience when it comes to minimizing time consuming mistakes.
4. Transparency – Our Missouri licensed mortgage brokers get paid by the lenders that we sell to and the amount we make is clearly defined from the very beginning. We find our clients actually appreciate this straightforward and honest approach. Plus, I’ve found that when they see our rates are lower and our fees are lower, they really question how much the bank or mortgage lender must really be making that they don’t show their clients!
5. Licensing – Being licensed and going through continuing education every year, taking tests to ensure product knowledge, ethics training, compliance reviews, etc.; these are the things that separate brokers from bankers. Clients who understand that brokers go through a significantly more difficult vetting process truly appreciate the professionalism they receive. Plus, I love pointing out that bankers do NOT have the same set of standards and are NOT licensed! Anyone can apply for a job as a loan officer at a bank with no prior training or experience. Is that who you want handling your loan?
6. Relaxed Work Environment – Not to be confused with unprofessional, most people today view bankers as uptight and stuffy, wearing suits and ties to work every day. We prefer a much warmer and inviting environment. We dress as the consummate business professionals and know when a tie is appropriate or when it makes people uncomfortable. When appropriate we will even come to you, at your home or your office to minimize the time demand for you.
7. More Experience – Pretty simple, bankers hire rookies with no experience (and without licensing, see #5); we do not. You will work with a team of seasoned pros who have probably handled numerous loans like yours and who know how to streamline the process and know how to appropriately structure your presentation to encourage the greatest opportunity for approval.
8. Industry’s Top People – Let’s face it; most loan officers are at banks because they need help getting clients. Experienced mortgage brokers typically are more seasoned, have their own returning clients and referrals, and require the resources in place to provide a high level of service to those faithful customers in a professional manner. We support our team with those resources because we know their customers are used to a higher level of service than they will find in a banking environment.
9. Golden Key Guarantee FREE Home Appraisal – At Gateway Mortgage we don’t leave your satisfaction with our service to chance. We guarantee it! Because we are a brokerage firm, not a bank, we can back up our satisfaction guarantee with an amazing offer. When you submit a Quick App and schedule a Mortgage Analysis with a Gateway Licensed Broker, you will qualify for an opportunity to receive a FREE Home Appraisal, even if your loan isn’t approved!